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How Markets Work

5 Units   3H 45M
Parts
  • Introduction
  • The Price System
    • Lesson 1: The Invisible Hand
    • Lesson 2: Economic Choices
    • Lesson 3: Supply & Demand
  • Pre-Conditions for Wealth
    • Lesson 4: Property Rights
    • Lesson 5: Legal Institutions
    • Lesson 6: Virtue
  • The Entrepreneur
    • Lesson 7: The Entrepreneur
    • Lesson 8: The Knowledge Problem
    • Lesson 9: Spontaneous Order
  • Money
    • Lesson 10: The National Economy, Part 1
    • Lesson 11: The National Economy, Part 2
    • Lesson 12: Monetary Policy
  • Economic Growth
    • Lesson 13: Trade
    • Lesson 14: Poverty
    • Lesson 15: The Economic Future

Lesson 5 Lesson 5: Legal Institutions

Presented by: Dr. Daniel Hammond
Wake Forest University

Playlist

  1. Legal Institutions and the Production of Wealth, Part 1
  2. Legal Institutions and the Production of Wealth, Part 2

Legal Institutions and the Production of Wealth

In this lesson you will learn about the variety of institutions that support a thriving market system. You will also learn why governments and markets can fail if public policy is not well-designed.

Lesson Five Quiz

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HMW Lesson 5: Legal Institutions

Step 1 of 3

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Unless restrained by constitutional rules, special-interest groups will use the democratic political process to obtain government favors at the expense of others.

James Gwartney, et.al

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h Video

Legal Institutions and the Production of Wealth, Part 3

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h Video

Rule of Law - Samuel Gregg, Hernando De Soto, & Marcela Escobari [PovertyCure Episode 3] (PovertyCure)

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h PDF

James Gwartney et al., Common Sense Economics, pp. 109-132

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h PDF

Thomas Sowell, Basic Economics, pp. 392-422

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How Markets Work

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